Required information Chapter 3: Applying Excel The Excel worksheet form that appears below is to be used to recreate part of the example relating to Turbo Crafters that appears earlier in the chapter. Chapter 3: Applying Excel: Exercise (Part 2 of 2) 2 Change all of the numbers in the data area of your worksheet so that it looks like this: If your formulas are correct, you should get the correct answers to the following questions: (a) What is the Predetermined overhead rate? (Round your answer to 2 decimal places.) (b) By how much is the manufacturing overhead underapplied or overapplied? 3. Either print or make a copy of your worksheet in your workbook before proceeding. You will need to refer back to this worksheet. Change the estimated total amount of the allocation base to 92,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: (o) By how much is the monufacturing overhead underapplied or overopplied? (b) Why is the amount of underapplied (overapplied) manufocturing overhead different from Requirement 2 above? (You may select more then one answer. Single click the box with the question mark to produce a check mark for o correct answers and double click the box with the question merk to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) ? The change in the estimated total amount of the allocation base affected the predetermined overhead rate ? The change in the estmated total amount of the allocation base affected the amount of manufacturing overhead applied. Actual manufacturing overnead cost differs from petiod to period The estimated manufacturing overhead cost did not change in proporton to the change in the estmated toral amount of the allocation base. 4. Change the estimated total amount of the allocation base back to 87,000 machine-hours, so that the data area of you worksheet looks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $813,600 to $818,800. The data area of your worksheet should now look like this: (a) By how much is the manufacturing overhead underapplied or overapplied? Required information (0) By how much is the manufacturing overhead underapplied or overapplied? (b) Why is the amount of underapplied (overopplied) manufacturing overhead different from Requirement 2 above? (You may select more then one answer. Single click the box with the question mark to produce a check mark for a correct anawers and double click the box with the question mork to empty the box for a wrong answers. Any boxes left with a question mark will be autometically graded ss incorrect.) 2. The prederermined overnead rote changed 2. The change in the octusi manufociung overhesd cost directly resulted in a comporobe change in the amount of uncerapolled (overappaed) mansiactuling owerhesd. 2 The change in the esumsted total amoint of the olocolion boce affected the arnount of manufocturing overnesd apolied